Wells Fargo & Company Begins Coverage on Inozyme Pharma (NASDAQ:INZY)

Wells Fargo & Company initiated coverage on shares of Inozyme Pharma (NASDAQ:INZYFree Report) in a research note issued to investors on Thursday, Marketbeat Ratings reports. The firm issued an overweight rating and a $14.00 price objective on the stock.

Several other research firms have also recently commented on INZY. Needham & Company LLC reiterated a buy rating and set a $23.00 target price on shares of Inozyme Pharma in a research note on Wednesday, May 8th. HC Wainwright reaffirmed a buy rating and set a $16.00 price objective on shares of Inozyme Pharma in a research report on Wednesday, March 13th. Wedbush reissued an outperform rating and set a $15.00 target price on shares of Inozyme Pharma in a research report on Tuesday, May 7th. Finally, Bank of America cut their price target on Inozyme Pharma from $16.00 to $14.00 and set a buy rating for the company in a report on Tuesday, April 9th. Five investment analysts have rated the stock with a buy rating, According to data from MarketBeat.com, Inozyme Pharma currently has a consensus rating of Buy and an average price target of $16.40.

Read Our Latest Stock Report on INZY

Inozyme Pharma Stock Up 2.8 %

INZY stock opened at $4.82 on Thursday. The stock has a market capitalization of $298.17 million, a price-to-earnings ratio of -3.52 and a beta of 1.54. The company has a 50-day moving average of $5.16 and a two-hundred day moving average of $4.95. Inozyme Pharma has a 52-week low of $2.69 and a 52-week high of $7.80. The company has a debt-to-equity ratio of 0.38, a current ratio of 14.05 and a quick ratio of 14.05.

Inozyme Pharma (NASDAQ:INZYGet Free Report) last announced its earnings results on Tuesday, May 7th. The company reported ($0.38) earnings per share for the quarter, missing the consensus estimate of ($0.35) by ($0.03). As a group, equities research analysts anticipate that Inozyme Pharma will post -1.59 EPS for the current year.

Insider Buying and Selling

In other Inozyme Pharma news, CEO Douglas A. Treco sold 7,523 shares of Inozyme Pharma stock in a transaction that occurred on Tuesday, April 2nd. The stock was sold at an average price of $6.94, for a total transaction of $52,209.62. Following the sale, the chief executive officer now directly owns 20,665 shares of the company’s stock, valued at $143,415.10. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Company insiders own 11.19% of the company’s stock.

Institutional Investors Weigh In On Inozyme Pharma

Several institutional investors and hedge funds have recently made changes to their positions in INZY. Values First Advisors Inc. bought a new stake in Inozyme Pharma during the fourth quarter worth about $59,000. SG Americas Securities LLC increased its holdings in Inozyme Pharma by 46.9% during the 4th quarter. SG Americas Securities LLC now owns 21,236 shares of the company’s stock valued at $90,000 after purchasing an additional 6,784 shares in the last quarter. Superstring Capital Management LP acquired a new stake in Inozyme Pharma during the 4th quarter valued at $528,000. Schonfeld Strategic Advisors LLC raised its position in Inozyme Pharma by 346.8% in the 3rd quarter. Schonfeld Strategic Advisors LLC now owns 311,880 shares of the company’s stock valued at $1,310,000 after purchasing an additional 242,080 shares during the last quarter. Finally, Kennedy Capital Management LLC boosted its stake in Inozyme Pharma by 52.2% in the first quarter. Kennedy Capital Management LLC now owns 437,657 shares of the company’s stock worth $3,352,000 after purchasing an additional 150,120 shares in the last quarter. Institutional investors and hedge funds own 88.30% of the company’s stock.

Inozyme Pharma Company Profile

(Get Free Report)

Inozyme Pharma, Inc, a clinical-stage rare disease biopharmaceutical company, focuses on developing novel therapeutics for the treatment of vasculature, soft tissue, and skeleton diseases. The company's lead product candidate is INZ-701, a soluble, recombinant, genetically engineered, and fusion protein for the treatment of ENPP1 and ABCC6 deficiencies, as well as patients with end-stage kidney disease receiving hemodialysis.

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Analyst Recommendations for Inozyme Pharma (NASDAQ:INZY)

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